Diodes pays $6.6 million for $9.6 million in 2.25% convertibles

By Devika Patel

Knoxville, Tenn., Feb. 26 - Diodes Inc. said it bought back $9.6 million of its 2.25% convertible senior notes due 2026 for $6.6 million in cash during the first quarter of 2009.

In December, as previously reported, the company repurchased $46.5 million of the convertibles for about $23.3 million in cash.

The $230 million in 20-year convertibles were sold in October 2006. They are non-callable for the first five years, with puts in years five, 10 and 15.

Diodes is a Westlake Village, Calif.-based semiconductor manufacturer.

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